Hans Group (HKG:0554) said its subsidiary Citybus will terminate its 10-year bus shelter advertising agreement with JCDecaux Cityscape on Oct. 2, according to a Hong Kong exchange filing late Friday.

Shares of the company were down nearly 2% in Monday's recent trade.

Citybus will pay a termination fee of about HK$96.8 million under the contract terms.

Following the termination, Bravo Media, another Hans Group unit, will become the exclusive advertising service provider for Citybus's bus shelters.

The move is expected to enhance advertising revenue and overall profitability through greater synergies in ad business development, the filing said.